Interesting sale price for 982 Elsinore Drive. Sold on Feb 2009 for $1275K. It is interesting because Palo Alto is considered one of those fortress areas. Comps for this property:
975 Elsinore Drive: May 2008 sale price $1505K
940 Elsinore Drive: Oct 2005 sale price $1405K
968 Elsinore Court: Sep 2003 sale price $1125K
974 Elsinore Court: Sep 2000 sale price $1101K
2008 was the peak - with price tag $1.5M. The sale price $1.2M for 982 Elsinore is pretty close to 2003 price $1.1M. It took only nine months (from May 2008 to Feb 2009) to drop $225K, the appreciation of approx five years.
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Oops. Wrong forum. I was thinking of posting it to Property Gossip Forum.
My fault. Things go into the Housing Crash forum by default if you don't check the radio button on the right next to "Property Gossip".
Got to make this clearer, but not sure how yet.
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